Waiting for your education loan approval can be stressful, especially when deadlines for admissions, visa applications, or tuition payments are approaching. If you’re applying for an education loan with Punjab National Bank (PNB), you’ll be happy to know that their process is efficient and student-friendly.
With PNB’s streamlined process, you can get loan approval in just 15-20 days and loan disbursement within 72 hours after completing all formalities. This guide will walk you through the exact steps to help you fast-track your loan approval and avoid unnecessary delays.
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What is PNB Education Loan Processing Time?
On average, the PNB overseas education loan takes 15-20 days to process an education loan. Once all documents are verified, the loan amount is disbursed within 24-72 hours.
The processing time depends on a lot of factors such as time taken in visa approval, admission confirmation from the university, sanctioned amount etc. Also, the borrower should fill and submit the application form ensuring that there is no mistake as it will create an unusual delay in the loan processing.
Check below all the major steps to be followed to get an education loan from Punjab National Bank.
Also Read: Are you a proud defence personnel ward? Get a study loan at a low rate of interest under SBI Shaurya Education Loan.
Steps Involved in Loan Processing
Some of the major steps that are necessary to be followed for an education loan are submitting the loan application form along with the relevant documents, sanctioning of loan post verification and loan disbursement. Check the details for all the stages below:
Education Loan Application
It is very important to fill out the loan application properly as any single mistake or incorrect details in the application may lead to rejection of the loan application. To apply for a PNB education loan, you need to fill out the common education loan application form on the Vidya Lakshmi portal.
Before submitting the form and relevant documents, check all the details filled by you carefully and then proceed. The bank will receive the application form and start the verification process. Always respond to the bank’s calls and emails properly so that the loan processing can be done on time.
PNB Education Loan Sanction & Approval
After receiving the loan application, PNB will start the verification process and credit inquiry will be made. After checking major details like the total loan requirement, net monthly income of co-applicant, university and course selected, debt-to-income ratio etc, the bank will approve the loan (subject to terms and conditions).
The bank will also issue a loan sanction letter which you can also show to the university as evidence of financial support.
Also Read: Check this blog and know all about Kotak Mahindra Bank Forex Cards for international students
Loan Disbursement
After receiving the loan sanction letter, check all the loan-related terms and conditions. The letter will contain details like net eligible loan amount, PNB education loan interest rate, type of interest rate (fixed or floating), repayment period etc.
If you agree to all the terms and conditions of the loan, then you need to sign the letter and submit further documents required for PNB education loan. It includes documents like a visa approval letter, details of insurance, a letter of acceptance from the university etc.
The bank will verify all the details and initiate the loan disbursement process. The PNB education loan disbursement process will take around 24-48 hours. In this way, the PNB education loan processing is done by the bank.
How to Speed Up PNB Education Loan Processing Time?
Getting your PNB education loan approved quickly can make a huge difference, especially when you have deadlines for tuition fees, visa applications, or travel arrangements. While Punjab National Bank (PNB) already offers a streamlined loan approval process, following a few smart strategies can further expedite your application.
Here’s how you can speed up your PNB education loan processing and get approval within 15-20 days with disbursement in just 72 hours:
1. Submit Accurate and Complete Documents to Avoid Rejections
One of the biggest reasons for delays in education loan processing is incomplete or incorrect documentation. To fast-track your loan approval, ensure that:
- All required documents are submitted in one go – Double-check before submission to avoid follow-ups.
- Your documents are valid and up to date – Expired ID proofs, missing income records, or incorrect fee structures can cause delays.
- Documents are properly attested – Banks require self-attested copies or notarized documents in some cases.
- Your co-applicant’s financials are strong – The bank assesses their income proof, ITR, and credit history, so ensure these are clear.
Pro Tip: Prepare a file with all required documents before applying. If unsure, visit your nearest PNB branch or check the PNB education loan website for the latest document checklist.
2. Respond to PNB’s Calls and Emails Promptly
After submitting your loan application, PNB may contact you for:
- Additional document requests
- Clarifications on your loan application
- Discussions regarding repayment plans
- In-person verification (if needed)
Here’s how you can speed up things-
- Keep your phone and email active—do not ignore calls from PNB loan officers.
- Check your email inbox regularly, including the spam folder, for any loan-related communication.
- Respond quickly to requests for additional documents or verification to avoid unnecessary delays.
Pro Tip: If you miss a call from PNB, call back as soon as possible to avoid processing delays.
3. Regularly Track Your Application Online
PNB allows you to track your education loan status online, which helps you stay updated on your application’s progress.
Steps to Track Your PNB Education Loan Application:
- Visit the PNB education loan portal.
- Log in using your application reference number or registered details.
- Check for any updates or pending requirements.
- If your status hasn’t changed in a few days, call or visit the branch to follow up.
Why is This Important?
- You’ll know exactly where your loan application stands.
- You can act quickly if there are any pending actions from your side.
- It prevents last-minute surprises that could delay approval or disbursement.
4. Visit the Bank Branch for Direct Follow-Ups (If Needed)
While online tracking and phone follow-ups help, visiting the bank in person can sometimes speed up the process further.
When Should You Visit the PNB Branch?
- If your application is stuck in processing for longer than expected.
- If you receive a request for additional verification.
- If you need to urgently escalate your case due to impending fee payment deadlines.
- If you want to discuss collateral or repayment concerns directly with a loan officer.
FAQs
The processing time for a PNB education loan usually takes 15-20 days. However, the loan processing time can vary depending on various factors such as the application form, documents submitted etc.
Several factors can affect the processing time, including the clarity and accuracy of the submitted documents, verification processes, credit history and score etc.
PNB is known for its fast service and efficient loan processing. However, always try to respond properly to any communication made by the bank about any information or documents. Visit the branch and take follow up with the nodal officer handling your education loan.
If you experience delays beyond the usual loan processing time of the bank, visit the nearest branch of PNB and contact the loan officer or the designated point of contact for updates.
Yes, PNB provides an online tracking system where applicants can monitor the status of their education loan applications. You can simply log in to the Vidya Lakshmi Portal and track the status of the education loan.
The maximum loan amount that PNB can process for education loans varies based on the type of course and institution. For overseas education, loans can go up to INR 1.5 crore, depending on the borrower’s requirements and eligibility.
For the PNB Udaan scheme, the processing fee is INR 10,000 + GST (Non-refundable)5. For other education loans, there are no processing or upfront charges for studies in India4. However, an upfront fee of 1.0% of the loan application is charged, refundable if the first disbursement is made within six months of sanction
The sanction letter for an education loan to study abroad is valid for only six months2. If the loan amount is not disbursed within that time, the application might get canceled, and the borrower will have to apply for the loan again
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